Hedge fund continues to build Esure stake

Hedge fund Toscafund Asset Management has taken its stake in Esure to 15.38% by buying a further 5 million shares in the personal lines insurer.

Toscafund now owns 64.2 million Esure shares.

Toscafund has been gradually ramping up its holding in Esure, which is now listed separately to price comparison site Gocompare, recently.

On Monday last week it took its stake to just over 14% from 13% by buying 4.6 million shares.

Esure’ share price took a knock after it demerged from Gocompare. It fell 26% to 196.10p on 3 November, the day of the demerger, from 265.80p the day before.

But it has since regained some value. Esure’s share price closed at 199.40p on Friday 11 November.